GDP grew in the first and second quarters this year, and economists expect it to continue in the third, but the tax refunds and stock market gains behind that growth are running out.
Tech, insurance, and financial services were the top drivers of spending growth.
But it might be a product of businesses holding back on imports after going on an import binge earlier this year to avoid tariffs.
The tariffs have drastically slowed imports, which increases total GDP but doesn't mean the underlying economy is booming.
The economy is hot, but maybe not as hot as it looks.
Exports of computer-related services rose too. “You sell the machine, but you also sell the engineers” who can set it up, one expert says.
The U.S. economy has been growing at a steady clip while many others are faltering.
Gross domestic product has been the standard measure for economic growth since 1944, but it doesn’t measure the quality of life.
There is a longstanding debate about whether the data is accurate. Some are skeptical of government officials’ projections of 5% growth.
Rising interest rates plus a strong dollar equals stiff economic headwinds.
